H.R.1638 - Commodities Exchange Improvements Act of 2005

To reinstate regulation under the Commodity Exchange Act of futures contracts, swaps, and hybrid instruments involving natural gas, to require review and approval by the Commodity Futures Trading Commission of rules applicable to transactions involving natural gas, to provide for the reporting of large positions in natural gas, to provide for cash settlement for certain contracts of sale for future delivery of natural gas, to temporarily prohibit members of the Commodity Futures Trading Commission from going to work for organizations subject to regulation by the Commission, and for other purposes. view all titles (2)

All Bill Titles

  • Short: Commodities Exchange Improvements Act of 2005 as introduced.
  • Official: To reinstate regulation under the Commodity Exchange Act of futures contracts, swaps, and hybrid instruments involving natural gas, to require review and approval by the Commodity Futures Trading Commission of rules applicable to transactions involving natural gas, to provide for the reporting of large positions in natural gas, to provide for cash settlement for certain contracts of sale for future delivery of natural gas, to temporarily prohibit members of the Commodity Futures Trading Commission from going to work for organizations subject to regulation by the Commission, and for other purposes. as introduced.

This Bill currently has no wiki content. If you would like to create a wiki entry for this bill, please Login, and then select the wiki tab to create it.

Bill’s Views

  • Today: 1
  • Past Seven Days: 1
  • All-Time: 1,015
 
Introduced
 
House
Passes
 
Senate
Passes
 
President
Signs
 

 
04/14/05
 
 
 
 
 
 
 

Official Summary

Commodities Exchange Improvements Act of 2005 - Amends the Commodity Exchange Act to include natural gas as an agricultural commodity within the purview of the Act, including hybrid instruments based upon natural gas. States that an agreement, contract, or transaction involving natural gas

Official Summary

Commodities Exchange Improvements Act of 2005 - Amends the Commodity Exchange Act to include natural gas as an agricultural commodity within the purview of the Act, including hybrid instruments based upon natural gas. States that an agreement, contract, or transaction involving natural gas may not be exempted from the regulatory requirements of the Act. Prohibits a board of trade that is a designated contract market from changing, without prior Commodity Futures Trading Commission (CFTC) approval, a rule, regulation, or contract specification that applies to any agreement, contract, or transactions involving natural gas. Requires back-up reporting of large positions as prescribed by the CFTC in order to deter manipulation of the price of contracts of sale of natural gas for future delivery. Directs the CFTC to prescribe rules requiring any board of trade to implement rules that provide for any contract of sale for future delivery of natural gas to be settled in cash in lieu of making delivery of the natural gas in circumstances in which the CFTC has determined that market conditions suggest possible manipulation. Subjects commodity price manipulation to a civil penalty. Prohibits, for one year, CFTC members from working for any organization subject to Commission regulation.

...Read the Rest




Vote on This Bill

-% Users Support Bill

0 in favor / 0 opposed
 

Send Your Rep a Letter

about this bill Support Oppose Tracking
Track with MyOC